DUBAI, 5 September 2007 — India’s renowned jeweler Malabar Gold will open a wholesale gold center in Dubai’s Deira Gold Souq today, P.A. Ibrahim Haji, renowned businessman and co-chairman of the group, told Arab News.
In a meeting held at Dubai’s Novotel yesterday, he also said “we have huge plans in GCC and by next year we will open outlets in Saudi Arabia, Kuwait and Bahrain. We have earmarked an AED100 million for GCC operation.”
“After the opening of the wholesale gold center in Deira Dubai, we will start an outlet in Bur Dubai” he added.
“Deira wholesale center will have modern designer collections from India, Turkey, Korea, Italy, Singapore, Europe and Middle East,” M.P. Ahmed, chairman of Malabar group of companies, told journalists.
He added that “traditional jewelry from several Indian states, Mughal Royal Collections, Karachi Bangles, Ethnic Coorg jewelry also will be displayed.”
The fast growing group, which was launched in 1993 mainly by NRIs, currently owns 16 showrooms across south India.
“We have a plan to open at least one retail jewelry shop per month” said K.P. Abdul Salam, director of the group.
“We are committed to honesty and fairness and we have a fine array of gold, platinum and diamond jewelry, crafted to sculptural quality by traditional craftsmen from Kolkata, Rajkot, Delhi, Mumbai, Coimbatore and Kerala” overseas operation director Shamlal Ahmed said.
Malabar Gold directors A.K. Nishad, M.Majeed, A.K. Faizal, R. Jaleel and C. Mayankutty also attended the press conference.